Pfizer Ltd has informed in a filing to BSE that its subsidiary Pfizer Inc. has completed its acquisition of Hospira, Inc.
Pfizer's GEP business now has a leadership position in the large and growing sterile injectables category, with a robust portfolio of both generic and branded products. The global market for generic sterile injectables is estimated to be USD 70 billion in 2020.
In addition, GEP has significantly advanced its biosimilars business with a broadened portfolio of marketed products and pipeline assets, which will benefit from the company's best-in-class capabilities in monoclonal antibody development and manufacturing.
Commenting on the development, Pfizer Chairman and Chief Executive Officer Ian Read said, "We are pleased that Hospira, the world's leading provider of injectable drugs and infusion technologies and a global leader in biosimilars, is now part of Pfizer. We want to welcome our new Hospira colleagues to Pfizer. We are excited to add their talents and proud of the shared commitment of all Pfizer colleagues to serving patients worldwide."
Meanwhile, shares of the company were trading at Rs 2304.65 a piece, down 1.27 per cent from the previous close on BSE.